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2020 Katheen Battle Financing assesses a finance charge of 2% of the amount of accounts...

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Accounting

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2020 Katheen Battle Financing assesses a finance charge of 2% of the amount of accounts rectivable and also resures an amiount equal to 4 S of accounts receivable to cover probatile adfustments. (b) Assume that the conditiuns are roet for a transfer of receivatles with recturse to be accounted for as a sale. Prepare thejournal entry on Aigast 15, 2020, for Novak to record the sale of reseivatiles, assuming the recourse obligation has a fair value of $3.670. of the amount is entered Do not inclestinacualy.]

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